SUCCESSFUL MARKETING. Disclosure of Commercial Interests. Learning Objectives 4/26/2018. Evolution or Revolution?

Transcription

1 SUCCESSFUL MARKETING Evolution or Revolution? CC Andrews President & Chief Strategist (440) Disclosure of Commercial Interests CC Andrews, President, Quantum Age Collaborative Marketing and Business Strategy collaborative, serving the healthcare and longevity markets. I have commercial interest in Quantum Age Collaborative. I have consulting interest in several LTPAC/senior living operators, solution provider organizations, academic institutions and not-for-profit organizations in the LTPAC arena. Learning Objectives Describe trends that are changing the way operators are marketing their services Define old and new marketing terms and understand how they work together Leverage a mix of marketing strategies for optimal outcomes 1

2 What s happening is not new. It s just our turn OUR Change Drivers: Access and affordability Consumer preferences Technology Healthcare market changes 2

3 Driver #1 Access and affordability The average Boomer is a little by half a million. short 74% of retired Boomers will have to rely heavily on Social Security. -TD Ameritrade Social Security Source: "The Future of Social Security," Aug

4 And we keep living looooooonger Driver #2 Technology Medical Technology Disease and longevity are not mutually exclusive 4

5 Mobility/ADLs Engagement Monitoring Memory Therapy Big Brother Tech Quality Business Analytics Telemedicine Telehealth Interoperability Artificial intelligence Predictive technologies Population health Driver #3 Consumer Preference 5

6 It Can Be Like Nearly 90% of seniors want to stay in their own home as they grow older. And if they needed daily assistance or care? 82% would still rather stay home. Source: AARP Aging in Place a State Survey of Livability Policies and Driver #4 Healthcare Market Changes Silos Are Coming Down Services must be delivered in the setting of the patient s (or payor s) choice 6

7 Market Trends Flash Poll Which market trend will impact your business the most? Trends M&A Accelerating very dynamic echnology Taking Hold Not the differentiator, rather a channel Creative ideas and messaging matter most Retention Gaining Steam as Lead Business Challenge International Senior Housing in the Mainstream Tech Explosion - Life in the SharkTank Diversification Home care, without walls,?? Healthcare Reform New Revenue Models bundles, risk share, networks, data! Employee benefits and retention Pressure to add new (private pay) products/add-ons New rating systems Staffing and quality take center stage 7

8 Rehabilitation Assisted Living Hospice Home Health Home Care Today s Model for Post-Acute Care Many contracts to manage IT complexity Decentralized reporting Consumer confusion Emerging Model for Post-Acute Care Market rationalization Quality drives partnerships Key metrics: ALOS, RTH, 5- Star, mortality, appeals The New Model for Post-Acute Care 1 Contract to manage IT simplicity Centralized reporting Consumer concierge 24x7 Accountability for outcomes Marketing is the process that moves goods and services from concept to customer. And this discipline is changing perhaps even more rapidly than the long-term care/senior living field! Kickin It Old-School: Traditional Marketing Print ads TV/radio spots Direct mail Billboards Community fairs Telephone Tour packet Brochures Giveaways Newsletter Branding 8

9 Except that Newer Methods DIGITAL MARKETING Website/SEO Social media Inbound vs. Outbound Digital/social advertising Reputation management Network/channel strategies Enter Content Marketing a strategic marketing approach focused on creating and distributing valuable, relevant, and consistent content to attract and retain a clearly-defined audience and, ultimately, to drive profitable customer action. 9

10 Examples of content Fact sheets FAQs Videos Tweets Blogs Newsletters Pricing sheet Infographics Facebook posts Quality reports ebooks Webinars/podcasts Distributing content Social media Facebook Twitter Pinterest Linked In YouTube So many others! Website Media outlets Partner networks Referral networks Face to face Inside and outside Social gathering places Four C s of content marketing Creating Curating Connecting Culture 10

11 Content should be Centered around value-based themes Are you talking about yourself? Your product? Focus in on how it enables your customer to be successful. Quick Test Count how many times your website or brochure Says your company/community name Uses the pronouns us, we, our That s your features talking not your benefits The buyer s journey 1. Awareness (discovery) 2. Consideration (research) 3. Decision (purchase) 2 more for LTPAC: 4. Retention 5. Advocacy 11

12 Diverse consumer audiences Crisis Christy Needs fast tools to evaluate care options Needs guidance about how care is paid for Trust and comfort are her ultimate drivers Planning Peter Has time to make a decision Needs Consumer Reports like info Needs coaching on rehab process Needs ways to pay for Aging Alice Needs a lot of hand holding Needs tools to help her care team with early interventions Needs to know safety net is there This trend has changed the game Today s Model for Post-Acute Care Many contracts to manage IT complexity Decentralized reporting Consumer confusion Emerging Model for Post-Acute Care Market rationalization Quality drives partnerships Key metrics: ALOS, RTH, 5- Star, mortality, appeals The New Model for Post-Acute Care 1 Contract to manage IT simplicity Centralized reporting Consumer concierge 24x7 Accountability for outcomes Hospitals, Managed Care, ACOs What Do They Want? Partnership Simplicity Narrowed network Value alignment Quality physical plant Breadth of service Transparent, state-ofthe-art technology Quality Outcomes Low RTH Short ALOS Elimination of appeals Better than market quality measures Bragging rights Risk Transfer Asset deployment Regulatory risk Legal risk P&L risk Capitated rate/ bundled payment Expense control not their problem (acuity based staffing) 12

13 B2B customers abound Cardiac Carl Discharge Donna ACO Amy Managed Care Mike The buyer s journey 1. Awareness (discovery) 2. Consideration (research) 3. Decision (purchase) 2 more for LTPAC: 4. Retention 5. Advocacy 13

14 Many journeys to accommodate ACO Amy Planning Paul Cardiac Carl Crisis Christy Discharge Donna Awareness Consideration Decision Retention Advocacy Being multi-lingual Cater each persona s experience to their pains and priorities Meaningful differentiators Speak their language Website Content marketing for the customer journey Voice of the customer which one?? Segmentation is key Other tools reports, newsletters, metrics, events, Channels social, web, broadcast, networks, B2B Broadcast vs. surgical strikes Anatomy of the buyer s journey 14

15 Only half of my marketing budget is working... I just wish I knew which half! Set SMART goals 15

16 Summary Target key audiences and know each one well Get their business by giving them the info they need when they need it and where they ll be looking for it Be ready to address purchase decisions on the buyer s terms and timeline Set SMART goals to continually monitor and refine performance SUCCESSFUL MARKETING Evolution or Revolution? QUESTIONS - COMMENTS CC Andrews President & CEO (440) candrews@quantum-age.com 16